The IRS has determined that bitcoin will be treated as property for tax purposes, and not currency. What does that mean for a digital currency? Michael Casey joins MoneyBeat.

This transcript has been automatically generated and may not be 100% accurate.

... been been been been ... IRS yesterday determine that bitcoin will be treated as property for tax purposes ... not currency what does that mean for eight digital currency ... Michael Casey is here to help sauce over the filth ... of like this was the worst acting IRS to commence easily and tax ... deadline April fifteen ... they did what is it me ... was that he refused but I think the people placing bids which way this was can ago was to go that way ... it wasn't as if the iris was totally fits money on the table perhaps with ... the people to experience these gangs has a chance to look Italy's capital crimes taxes on that ... so the case because there's a bit of that would ... be really does stop she clarified some of the ... updated ... some of the roles of the statistical County will plus ... one other concerns would be ... in it can actually function as a current spread ... tent canopy now used to buy things sell things to ... be part of the exchange crisis does what it's great promise is ... if ... you know those transactions get caught up with a taxable situation it seems from your own according to a lot lower than ... that ... today the IRS is going to give exemptions to to anybody who's not using it as an as investors on holding isn't going ... to be updated ... it buying things out of this talk talk all more than eighty ... minutes is that now accept bitcoins ... by the to do that you don't have to worry about walking so that that's come clean so the concern about the B quarters of a market killing the right now I think that's the that's really the key point is the IRS is ... doing here ... is looking at bitcoin ... as an investment what kind of an investment is it ... and that's where ... the threat is really all that it's not so much ... how you can use bitcoin in your dating life it's that you're holding this if you're a minor mining pulling back but how does that get to keep going right I mean there's other things that the goddess well so what is this June for the long term for trading strategies for casinos and snatches Capital bangs ... that there are certain roles as to what ... you ... have against SK Innovation or what time you call this is what's for does that affect the volatility for example could lead to wall is willing to undergo belong to ... these things will have to see how plays out it also may factor in things but the bankruptcy at Mt Gox in others because ... now there is a definition around which a bankruptcy court can determine how to value the claims of these credit is it's being treated as a certain asset wrote a currency that means this can affect the way that those claims get the right to the holiday additional things which you can stop the fall of the line is it just means that this one while blissfully lot but is being sued morphed into the border read poetry structure of the fund ... is up to a more respectable he ... may be keeping our my Casey Aksland stuff as always thank very much ...